Governor Dayton, Legislative Leaders React to Surplus News

Minnesota Management and Budget released the February Budget and Economic Forecast Wednesday, February 28, which projects a $329 million dollar surplus for fiscal years 2018-19 and will help guide lawmakers' budget decisions in the coming weeks. The report contrasts sharply from the November Economic Forecast, which projected a $188 million dollar deficit for the same time period.

In addressing the media, Governor Mark Dayton called the report "good news for Minnesota" but cautioned that "any changes to current tax laws and expenditure commitments need to have minimal net effects." The Governor said he will release his supplemental budget recommendations March 18.

Senate Minority Leader Tom Bakk, DFL-Cook, responded to the news by suggesting that all Minnesotans owe Governor Dayton a debt of gratitude for his fiscal management. Senator Bakk went on to stress the necessity of working out federal tax conformity and of honoring the state's pension obligations.

Senate Majority Leader Paul Gazelka, R-Nisswa, said, "The number one thing I want people to think about is that the tax cuts are working. And I really don't care whether you think the'’re from the federal government or the state house, the fact is we did them in both places and they are actually having an impact.”